The basic coordinating mechanism in a free-market system is
A. the corporation.
B. a central government authority.
C. price.
D. quantity.
Answer: C
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A positive economic statement simply describes what is
Indicate whether the statement is true or false
Economic discrimination and prejudice
a. are synonymous. b. must both exist in statistical discrimination. c. often occur together. d. are mutually exclusive.
Evidence of differences in average wages of women compared to men
a. clearly illustrates differences in productivity between genders. b. provides conclusive evidence of discrimination on the basis of gender. c. is seldom used to provide evidence of discriminatory bias. d. does not provide conclusive evidence of discrimination.
Most of the countries in the world suffered long and deep losses of output and employment between 1930 and 1935, which in turn meant fewer purchases of U.S. goods and services. Which of the following indicates the appropriate change in the U.S. economy?
A. Aggregate demand shifted to the left B. Aggregate demand shifted to the right C. The economy moved up along the aggregate demand curve D. The economy moved down along the aggregate demand curve